Light of the 7️⃣
E-Cell IIT-BHU's Weekly Newsletter!
Hola Readers! 👋🏻
How's the Wordle Challenge coming along and how close are you to getting bored of it? Sure it is a great distraction from the many things we seek to avoid but maybe, just maybe it's time to move on from it too? Anyway, here's what we have lined up for you today.
With the new budget in the town and a lot of BharatPe controversies, the startup world this week is oozing out news and E-Cell IIT BHU is back with its weekly newsletter to rescue you from your Sunday boredom. 😌
So...why wait??...let's dive in!
What’s in the Budget for Entrepreneurs?
Last year’s Budget marked funding of Rs 1,500 Cr to accelerate digital payment’s growth in the country. To incentivize startups, the government extended the claim of tax holidays till March 31, 2022, to boost funding for startups.
“Fund to be facilitated through NABARD to finance startups for agriculture and rural enterprise, relevant for farm produce value chain. Startups will support FPOs and provide tech to farmers,” Sitharaman said.
“Startups will be promoted to facilitate Drone Shakti through varied applications and for a drone as a service,” Sitharaman said.
“Startups have emerged as drivers of growth for our economy. Over
the past few years, the country has seen a manifold increase in successful start-ups. Eligible start-ups established before 31/3/2022 had been provided a tax incentive for three consecutive years out of ten years from incorporation. I propose to extend the period of incorporation of the eligible start-up by one more year, that is, up to 31/03/2023 for providing such tax incentive,” Sitharaman said while presenting the Union Budget.
Concessional corporate tax rate of 15 percent would be available for 1 more year till March 2024 for newly incorporated manufacturing companies, Sitharaman said.
“Production Linked Incentive (PLI) Scheme for achieving Aatmanirbhar Bharat has received an excellent response, with potential to create 60 lakh new jobs and additional production of 30 lakh crore during next Keycap digit five years,” Nirmala Sitharaman said while presenting the Union Budget.
In last year’s Budget, Nirmala Sitharaman had announced Rs 1,500 crore to further accelerate digital payments’ growth in the country. To incentivize startups, the government had last year extended the eligibility for claiming tax holidays for startups by a year to March 31, 2022. It also extended the capital gains exemption for investment in startups by a year to March 31, 2022, to boost funding.
Just like you "thank your angels", when something good happens to you, entrepreneurs thank their "angel investors" for giving their startup a kickstart.
So...who exactly are angel investors?
Angel investors are “individuals” who fund a startup in its early stages, in exchange for convertible debt or ownership equity. 💸
Though the risk associated with angel investment is pretty high, the reasons for making the investment may not always be financial returns. Still, if an angel investor feels that he wants to end his association with the start-up, he simply sells his share of equity to another entity, following a well-defined exit strategy.
Shoe Dog - A Memoir by the Creator of Nike
As we all know, the Nike symbol is the globe-spanning icon, one of the most ubiquitous and recognizable symbols in the world today. But do you know how an intrepid start-up evolved into one of the world’s most iconic, game-changing, and profitable brands!?
‘Shoe Dog: A Memoir by the Creator of Nike’ chronicles the advent of Nike and the adventures of Phil Knight (Nike founder and CEO). It captures the period between 1962 when Phil first embarked on the journey (literally, actually), and 1980, when the company went IPO and Phil and his company, finally, made it. In this candid and riveting memoir, for the first time ever, Knight shares the inside story of the company’s journey and how it became ne plus ultra of all startups.
“How can I leave my mark on the world, I thought, unless I get out there first and see it?”
― Phil Knight
'A refreshingly honest reminder of what the path to business success really looks like … It's an amazing tale' Bill Gates 'The best book I read last year was Shoe Dog, by Nike's Phil Knight.
Then, what are you waiting for…let’s give it a read!! (Shoe Dog)
Indian IPO’s Tracker📊
Logistics startup “Ecom Express” has filed its DRHP for INR 4,860 Cr IPO at $1.5 Bn to $1.8 Bn valuation, consisting of INR 2,160 Cr fresh issue and INR 2,700 Cr OFS.
Teleshopping and e-commerce platform Naaptol is planning for an INR 1000 Cr IPO and will file its DRHP in Feb 2022.
We’re here with another interesting activity, where we search🔍for top companies and their founders. So, let’s start…
The Zerodha Universe
Zerodha is one of India's leading stock broking companies which was started by Nithin Kamath & Nikhil Kamath in 2010. Today Zerodha is worth 2 Billion dollars 🤑 and the fact here is, Zerodha achieved its valuation mark without raising a single penny from the venture capitalists.
This video covers various business and marketing strategies used by Zerodha to build a billion-dollar company in just 10 years and also it highlights various value propositions which were built by Zerodha which turned them into the biggest stockbroker in India.
Let’s have a look🧐!!
“I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.”
-Jeff Bezos, Founder and CEO Amazon
So...that's it for this week's edition.
Hope you liked our ode to the GOT fans in the Title.
But don't worry! We'll be back again next week with even more fun and exciting content 😉.
Till then, stay tuned!